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The Directors have pleasure in presenting the 20th Annual Report
together with the audited accounts of the company for the year ended
31 March 2010.
I. FINANCIAL HIGHLIGHTS:
The Performance of the Company for the financial year ended 3 I March
2010 is summarised below:
(Rs. in Lakhs)
Appropriations:
a. Operating Results:
During the Year, your Company achieved Income from Operations amounting
to Rs. 21649.66 Lakhs as compared to Rs. 17142.62 Lakhs in the previous
year thereby recording an increase of 26.29%. The Net Profit after tax
(PAT) for the year was Rs. 3938.95 Lakhs as compared to Rs. 3309.89
Lakhs in the previous year, thereby an increase of 19.01%
b. Financing Cost:
The Finance Cost has increased by Rs. 83.41 Lakhs as compared to the
previous year, which is mainly due to raising of additional working
capital facility for covering up the increase in Gross Sales.
III. DIVIDEND
Your company has not accepted or invited any deposits from the public
during the year.
V. SUBSIDIARY COMPANIES
VIII. QUALITY
Your company recognizes quality as an important differentiator in
industry. Therefore, it has well defined stringent quality standards
with customer focus and management commitment and involvement across
hierarchies. During the Year, your company has been certified for ISO
9001:2008. ISO 9001:2008 Certification reflects that your company has
well defined Quality processes and procedures in place, which lead to
total customer satisfaction as regards Quality Management.
Further, your company is on the way to get certified for the following
Certifications:
(b) ISO 27001:2005 Certification - reflects that the Company has well
defined Internal Security Management System thereby maintaining high
level of Confidentiality of Customer Data.
During the year, your Company constituted two forums among the
employees Viz., Key Managerial Personnel (KMP) and Rising Star Forums.
During the year, your company launched Omnitech Employees Stock Option
Scheme, 2009 to reward the talented employees. During the Year, your
company organized Dusshera Puja, Holi and various sports events and
small get togethers to combine fun with work.
During the year, your Company was awarded with the following:
XIII. DIRECTORS
The observations made in the Auditors report are self explanatory and
therefore do not call for any further comments under Section 217(3) of
the Companies Act, 1956.
Your Directors request you to appoint Auditors for the Financial Year
2010-11. In this regard, attention of the Members is invited to Item
No. 5 of the accompanying Notice convening forthcoming Annual General
Meeting.
(a) the Company has, in the preparation of the annual accounts for the
year ended 3 I March 2010, followed the applicable accounting standards
along with proper explanations relating to material departures, if any;
(b) the Directors have selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable
and prudent so as to give a true and fair view of the state of affairs
of the Company as at 3 I March 2010 and of the profit of the Company
for the financial year ended 3 I March 2010;
(c) the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities; and
(d) the Directors have prepared the annual accounts on a going concern
basis.
XVII. ACKNOWLEDGEMENTS
Sd/- Sd/-
Place : Mumbai (Atul Hemani) (Avinash Pitale)
Date : 18.05.2010 Managing Director Executive Director